Your "life insurance" from your company is, in all likelihood, much closer to a token benefit than something that's appropriately sized for your needs. (Especially if you have dependents!) It's also not especially cost-effective if you're "buying more of it" from your employer's vendor anyway.
Buy term life insurance on your own for you and your wife, assuming you have dependents.
(Google it; start with a link from Suze Orman's site, or anything. It's largely commoditized for most people from what I can tell. I had to buy from one of two specific vendors because many policies exclude dying when serving as part of an airplane crew; I'm a private pilot; my family needs financial support without regard to my manner of passing, so...)
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Your "life insurance" from your company is, in all likelihood, much closer to a token benefit than something that's appropriately sized for your needs. (Especially if you have dependents!) It's also not especially cost-effective if you're "buying more of it" from your employer's vendor anyway.
Buy term life insurance on your own for you and your wife, assuming you have dependents.
(Google it; start with a link from Suze Orman's site, or anything. It's largely commoditized for most people from what I can tell. I had to buy from one of two specific vendors because many policies exclude dying when serving as part of an airplane crew; I'm a private pilot; my family needs financial support without regard to my manner of passing, so...)